Air Montenegro negotiating lease of third jet

NEWS FLASH

Air Montenegro’s CEO, Vuk Stojanović, has said the carrier is currently negotiating the dry-lease of an aircraft to expand its fleet to three for the upcoming summer season. Unlike previous years, when the carrier relied on wet-leased aircraft during peak travel period, this marks a shift in strategy. Last year, the airline operated a wet-leased Airbus A320 from Croatia’s Trade Air and an Embraer E190 from Ukraine’s Windrose Airlines. Air Montenegro currently boasts a fleet of two E195s, both of which are sixteen years old. Speaking to public broadcaster “RTCG”, Mr Stojanović noted, “The previous CEO was replaced mainly due to unsatisfactory business performance, which stemmed from inadequate planning. By July of last year, the company had recorded a net loss exceeding four million euros. We are in a much stronger position now. By the end of last year, we had approximately ten million euros in the company’s account, even during the peak of the winter season. Our financial sustainability is further demonstrated by the fact that, for the first time in the national airline’s history, we achieved profitability for twenty consecutive days in November.